LAST UPDATE 15:10 The pressure on Europe’s energy crisis continues unabated, with Germany and France today seeing electricity prices for next year soar to unprecedented levels. In particular, as reported by Bloomberg, the year-ahead contract in France increased today up to 13%, reaching 1,022 euros the megawatt hour on the European Energy Exchange. Similarly, German […]
Tag: energy crisis
Bloomberg: The European policy of subsidizing electricity bills is at an impasse
European governments have already set aside about 280 billion euros to cushion the impact on businesses and households from soaring energy prices, but the aid risks deepening the crisis, according to Bloomberg. With Russia curbing natural gas deliveries and power plant outages further squeezing supply, wholesale energy prices have soared to more than 10 times […]
What percentage of GDP have EU countries allocated to the energy crisis – How much did Greece spend?
European governments have spent around 280 billion euros in funding to ease the effects of the energy crisis on households and businesses, according to Bloomberg. The funding, reviewed by Brussels-based think tank Bruegel, counts new allocations since September and covers everything from subsidizing tariffs for small businesses in Greece to direct payments to consumers in […]
What amounts have the EU countries allocated for the energy crisis – The position of Greece
European governments have spent around 280 billion euros in funding to ease the effects of the energy crisis on households and businesses, according to Bloomberg. The funding, reviewed by Brussels-based think tank Bruegel, counts new allocations since September and covers everything from subsidizing tariffs for small businesses in Greece to direct payments to consumers in […]
France: ‘We can’t stand a ceiling on energy prices forever, there will be increases’, says Govt.
France cannot keep a cap on energy prices forever through billion-euro subsidies to help households deal with runaway inflation, Prime Minister Elisabeth Borne’s government spokesman Olivier Verand told reporters on Wednesday. Press after the end of the meeting of the Council of Ministers, which was chaired by the President of France, Emmanuel Macron. Natural gas […]
Up to… zero electricity prices with the September subsidy – The tariffs by provider
The final consumer prices for electricity in September from many electricity suppliers are returning to pre-energy crisis levels, after the removal of subsidies announced yesterday morning by the Minister of Environment and Energy Kostas Skrekas, while in one supplier’s case the charge will be… zero . The increase in the subsidy to 63.9 cents per […]
Canada: Historic agreement with Germany on renewable hydrogen
The governments of Canada and Germany signed a cooperation agreement on the production and transport of renewable (or green) hydrogen yesterday on the second day of German Chancellor Olaf Scholz’s visit to Canada. German Economy Minister Robert Habeck and Canadian Energy Minister Jonathan Wilkinson signed the agreement at a ceremony in Stephensville, Newfoundland, in the […]
‘Wild’ changes in the price of natural gas in Europe, after yesterday’s historic high
Strong changes are recorded on Tuesday in the price of natural gas in Europe, at a time when the record cost of this resource burdens the economic prospects of the continent, with winter approaching. The pan-continental benchmark contract was earlier up more than 5% before retreating 1.9% to regain the upper hand, closing at an […]
Mr. Skrekas: 1.9 billion euros to subsidize electricity bills in September
LAST UPDATE: 10.03 The amount of the state subsidy on electricity bills for the month of September, which is expected to cover up to 90% of the increase in the price of a megawatt hour, was announced on Tuesday morning by the Minister of Environment and Energy, Kostas Skrekas. The total amount that will be […]
Reuters: As the war in Ukraine continues, the European financial crisis intensifies
It was expected to be a good year for Europe. A post-pandemic consumer euphoria, supported by abundant government spending, was expected to boost the economy and help households regain a sense of normalcy after two dire years, Balazs Koranyi reports for Reuters. But all that changed on February 24 with the Russian invasion of Ukraine. […]
